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yalcin0595

China To Accept Bitcoin Mining As industry

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China has always being in the making of the optimum use of this firms of the Bitcoin or Crypto mining industries. And when having to Mark such as am economical industry will only been ng more of such to the Chinese economy as more and more will be willing to take part on such creations, as we formally know that China has the highest number f miners there, so having this will be very much excellent

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China is the strong influence on the prices of cryptocurrencies. It is able, through its acceptance or rejection of mining, to raise and lower prices whenever it wants, and it is making the most energy-efficient new mining equipment.


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China's ban on mining was not certain, but this was common due to Beijing's imposition of trade restrictions. And that was just a suggestion under review. Despite this, China had emergency plans to transfer its operations to more acceptable destinations for Crypto. Thank you for this information


Учитесь, учитесь и учитесь на своих ошибках :classic_smile:

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China is the mining giant around the world, and the mining industry in China cannot fail because it is backed by international companies investing billions of dollars in this field, such as Bitmain.

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On 3/20/2020 at 2:41 PM, Whited35 said:

China is becoming the world power of economy. The policy from the government would be to see the new possibility to increase the economy power for the country. We know China itself has the largest populations in the world and they have to give or create the earning opportunities to people.

As we can see, china has a very cheap price of electricity so that they can easily to do mining and they are seeing this so that they will now used this to help their country in terms of economy.

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1 hour ago, Mcd0d0 said:

As we can see, china has a very cheap price of electricity so that they can easily to do mining and they are seeing this so that they will now used this to help their country in terms of economy.

China has those resources available and they have been into Mining for a long time, electricity is cost-effective in their country which make them to easily earn from their Mining activities

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On 11/6/2019 at 9:49 PM, yalcin0595 said:

China's national development and reform comission rejected bitcoin as an industry in the country. The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations. In its most recent year, however, the economic planning agency did not mention bitcoin or any other  crypto mining that should leave the country. When the NDRC published its first industry reform catalog in 2005, it closes and recommends the establishment of different sector types. In preparation for the NDRC in 2011, the repor advocated the removal of bitcoin mining from the industry. Currently China is responsible for most of the bitcoin mining in the world.

Now the china is not in good condition and they stop their all work and also they are in big trouble but this is the sad news for all the world becasue now in this time all the world in bad condition and peoples are infected by the virus, but soon every thing is to be good and they start to work in crypto market.


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China is the world's largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, they are very influential country when it comes to businesses and can make huge effects in the market.

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Just now, Sarker7680 said:

However, the communist countries are also less likely to crypto, they have wanted to ban it for months There are many minerals and mining farms in China because they have cheap energy there.

You're right mate so that they will abuse it to get some money and by the help of their government, there is a tendency that they will not paying some electricity bills from that.

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On 3/23/2020 at 6:59 AM, Anderson21 said:

The people of China accept or accept Bitcoin mining as an industry. Because they loves bitcoin. Even Bitcoin is popular in any country in the world . They still work earn for bitcoin. Thank you

Why did you say that, is it just because they love Bitcoin, but why is it that there president couldn't accept bitcoin as legal

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China is one of the mos profitable places to mine bitcoin and this is why they are able to still provide cloud mining at a competitive rate. I read an article a couple weeks ago that said that even after the halving event, it will still be profitable for china to host mining contracts at the same price that they are advertising them for now, clearly showing exactly how much profit they are able to make from crypto.


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On 11/6/2019 at 10:49 PM, yalcin0595 said:

China's national development and reform comission rejected bitcoin as an industry in the country. The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations. In its most recent year, however, the economic planning agency did not mention bitcoin or any other  crypto mining that should leave the country. When the NDRC published its first industry reform catalog in 2005, it closes and recommends the establishment of different sector types. In preparation for the NDRC in 2011, the repor advocated the removal of bitcoin mining from the industry. Currently China is responsible for most of the bitcoin mining in the world.

In the crypto field there are many ways to earn free income. Mining is one of the great way. Also it's a great part of crypto. Through this we can mine new coins.


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The country of cyryto currency mining in the Chinese economic planning agency, Guidance sector restructuring catalog allowed in an industrial zone. China's top economic planning agency has  ben categorized as an industry that would proviously be banned from a bitcoin mining country.The new catalog for restruring the guidance sector will be effective from 1 january 2020. In April this year the NDRC listed bitcoin mining as an industry  that is being phased out of the country for failing to comply with applicabke laws and regulations.

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Mining is one the best method of Crypto currency earning although it's a machinary method. On the other hand chaina always so eager about all advanced method. 

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China is one of the most populated countries in the world. A few years ago China had banned all the cryptocurrencies trading. But now they have understood the importance about it and started it year ago. The mining is quite a popular work among all the miners. They mine for the free cryptocurrencies and the industry should be built to continue this work facilities. So I think China can benefit from accepting cryptocurrencies mining as industry. 

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I see mostly of country that's can be most leading to do bitcoin mining is China, and also I've heard that the country that's are fighting against bitcoin also is China, so I don't understand what's the fact here.

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We know that China is one of the most important countries that support encryption, and the encryption in that country has a lot of popularity and it is not surprising that China may prevent mining in it

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When we talk about China we need to be clear that China is the most technical country in Mining or trading point of view most of the Chinese prefer to do such activities to earn free money and a huge profit from it so developing an industry of mining is very good achievement for them.

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On 4/11/2020 at 3:19 PM, Jaga123321 said:

No actually all the country should mine because if China will do that then most mining power will gose to china and it will try to control it and you know the intention of China 

You are correct but most countries have really high electricity prices that don't make mining profitable. In China miners negotiate with many suppliers and they are basically having the cheapest prices from the rest of the world. Perhaps since oil has dropped a lot we might see big mining farms oppening in other countries as well.

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mining in china is already an industry in its own right, I think about half of the total number of miners is there, the Chinese government just needs to take note of it and make it official ...


 

 

 

 
 
 

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1 hour ago, Binjit said:

China is different country then other countries it is say different and do different china already banned
bitcoin mining before long time ago after then chines peoples are using cryptocurrency and doing
trading on it

They will surely accepts it, but I am thinking on how do they sell it, I think some chinese trader has their own way of trading it using blockchain.

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I believe that China is one of the most important countries in Bitcoin mining, and if China recognizes bitcoin and becomes legal this will represent a very important event in the crypto world and I think that will happen in the near future

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Now china is the economic hub. And bad thing is that they didn't accept the bitcoin yet. But i think they will accept it latterly. If they accept then it will huge achievement for bitcoin. 

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1 hour ago, bitcoin-shark said:

mining in china is already an industry in its own right, I think about half of the total number of miners is there, the Chinese government just needs to take note of it and make it official ...

I think that China will make the adoption of mining only for its own coin, the rest of the coins it will prohibit mining as the cryptocurrency as far as I know (bitcoin) want to ban.


 

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Well it's certain that in the previous years china didn't support cryptocurrencies, there were against cryptocurrencies, but recently I started seeing news that there now accepts mining in China , I think China has started seeing the usefulness of blockchain and cryptocurrencies.


 

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On this day, the Tankan Large Manufacturers Index will be published. No other important macro statistics regarding the state of the Japanese economy are planned for the coming days.   CRYPTOCURRENCIES: Causes and Consequences of "Black Monday" on 24 June     Monday, 24 June, presented investors with a very unpleasant surprise – on this day, bitcoin's price fell below $60,000 for the first time since 03 May, reaching $58,468 at one point. Ethereum, in turn, fell below $3,250. Analysts highlight several reasons for the active sell-offs, noting that they reflect overall instability in global financial markets and uncertainty about monetary and regulatory policies in several leading countries, especially China and the US. However, there are also more specific factors that contributed to the development of the bearish trend.   In mid-June, the German government began selling off a huge amount of bitcoins (about 50,000 BTC) confiscated in January. Panic sentiment sharply intensified after the announcement on 24 June that creditor payments for the bankrupt crypto exchange Mt.Gox would begin in early July. The total amount of funds to be distributed among former clients is 162,100 BTC, roughly $10 billion. Bitcoin responded to this news with an 8% drop. It’s no surprise – such a volume of coins flooding the free market can seriously knock down prices. In the derivatives market, long positions worth $177 million were forcibly liquidated, and the total financing rate for futures contracts turned negative for the first time in June, indicating that sales exceeded purchases.   It is precisely on the expectations of Mt.Gox debt payments that the flagship crypto asset's quotes reached the lowest level in the past eight weeks last Monday. In this situation, two things are encouraging. Firstly, the deadline for repayment falls on 31 October, and it's possible that payments will be made in parts over four months rather than all at once. And secondly, there is hope that not all creditors will rush to convert their bitcoins into fiat, but will hold onto them, hoping for price growth.   In addition to the above, BTC miners exerted some downward pressure on the market. It became known that their coin reserves reached a 14-year low, as they had to sell a significant amount of BTC due to the April halving to cover operational expenses. Recall that the cost of mining bitcoin, according to JPMorgan analysts, is $53,000. Historically, this cost level is a strong support for BTC/USD. However, even in March, JPMorgan did not rule out that after the halving, bitcoin could temporarily fall to $42,000.   In the absence of positive signals, the demand for spot bitcoin ETFs continues to decline, major market participants slow down their activity, and start to take profits. This also pressures the prices. CEO of investment company CryptoQuant Ki Young Ju calculated that over the past two weeks, bitcoin whales and miners set a record by selling coins worth $1.2 billion.   According to 10x Research, all last week, US spot BTC ETFs recorded investor outflows, and on 21 June, net outflow exceeded $105 million. 10x Research believes that bitcoin will now need to find a new price range to stabilize the decline and then find growth catalysts. In the medium term, according to 10x Research analysts, it is not worth expecting BTC to return above $70,000.   Popular analyst Matthew Hyland noted that the combined bitcoin balance on centralized exchanges reached a multi-year low. In theory, this could be seen as a bullish signal, but the crypto market leader is not yet eager to show an upward trend. Naturally, the publication of key US economic data could serve as a vector for further cryptocurrency movements. If the Fed takes its first step in easing its monetary policy in September, it could support risky assets, including bitcoin. According to Cryptology experts, the chances of bitcoin reaching a new all-time high by the end of September are quite high, and what is happening now is a phase of accumulation.   Despite the current decline, many investors remain optimistic, citing the cyclical nature of the crypto market. They also do not forget about the US elections. For example, former Goldman Sachs CEO Raoul Pal predicted significant bitcoin and cryptocurrency market growth in Q4 2024. In an episode of The Wolf Of All Streets podcast, the financier noted that risky assets like bitcoin usually rally against the backdrop of US presidential elections. "The final quarter of an election year is a real 'banana zone' for all assets. It always is," Pal optimistically stated, noting that the "banana zone" for cryptocurrencies in autumn is much more pronounced than, for example, for the Nasdaq index.   Bitcoin was also supported by billionaire Michael Saylor. His company, MicroStrategy, is one of the largest bitcoin holders in the world, with 205,000 BTC on its balance sheet. Despite the negative trend, it increased its reserves by another 11,931 BTC (over $700 million) in the past month alone. Saylor is convinced of the first cryptocurrency's ability to grow to $10 million with support from China and other factors. He believes that in the future, governments, especially China, will fully embrace the first cryptocurrency and integrate it into the state infrastructure. The entrepreneur declared all pre-bitcoin economic instruments obsolete. "Before Satoshi Nakamoto, economics was a pseudoscience. All economists before Satoshi tried to develop economic laws with shells, glass beads, pieces of paper, and credit instruments," the businessman wrote, calling bitcoin a "perfect asset."   In previous reviews, we already wrote that the launch of exchange-traded spot ETFs on Ethereum could give a certain boost to the digital asset market. On 25 June, SEC (US Securities and Exchange Commission) Chairman Gary Gensler noted that the registration process for new ETFs is "going smoothly," and the approval date depends on how quickly applicants submit adjusted S-1 forms. Bloomberg analysts call 02 July the expected approval date for new products. Reuters, citing anonymous sources, reports that a consensus has been reached between fund managers and the SEC in negotiations, and only the "final touches" remain.   Co-founder of venture company Mechanism Capital Andrew Kang stated that after the approval of ETH-ETF, Ethereum's rate could correct by 30%, falling to $2,400. In his opinion, at this stage, the main altcoin attracts much less attention from institutional investors compared to bitcoin. Based on this, ETH-ETF will attract only 15% of funds compared to what BTC-ETF received at the start.   Kang noted that to increase Ethereum's attractiveness among investors, its ecosystem needs to be positioned as a decentralized financial settlement layer, a global computer, or a Web3 application store. At the same time, it will be difficult to sell new ideas for Ethereum's application to funds, as the asset is perceived by investors as an overvalued stock of a large technology company.   Significantly more positively views the future of Ethereum Matt Hougan, CIO of Bitwise, a company managing cryptocurrency funds. In his opinion, the appearance of a long-awaited exchange product is undoubtedly a positive factor, and the net inflow of investments into ETH-ETF over the first 18 months will amount to $15 billion. In his analysis, he relies on the experience of Canada and the EU, where in similar products the inflow ratio for Ethereum and Bitcoin is approximately 1 to 4 (i.e., 25%). In other words, if in the first quarter of work for spot Bitcoin-ETF the total inflow was $26.9 billion, for Ethereum it is expected to be at the level of $6.7 billion. In this case, in three months of work, the leading altcoin could rise to $4,400-5,000.   CEO of SkyBridge Capital Anthony Scaramucci believes that the price of Ethereum could rise even higher, reaching $10,000-12,000. Regarding bitcoin, the entrepreneur allows for its growth to $170,000-250,000. The main driver, in his opinion, will be the further institutional acceptance of cryptocurrency. Scaramucci called the approval of spot exchange ETFs an important regulatory barrier breakthrough for attracting new capital. Thanks to this, in his opinion, the share of digital gold in the portfolios of major players will soon be about 3%.   As of the evening of Friday, 28 June, BTC/USD is trading at $60,190, and ETH/USD is in the $3,390 zone. The total crypto market capitalization is $2.24 trillion ($2.34 trillion a week ago). The bitcoin Fear & Greed Index (Crypto Fear & Greed Index) has dropped from 63 to 47 points over the past 7 days, moving from the Greed zone to the Neutral zone.   In conclusion, here is another observation from Matt Hougan. The CIO of Bitwise presented three reasons why long-term investments in both bitcoin and Ethereum are more advantageous compared to investing only in bitcoin. These are: 1. portfolio diversification 2. the opportunity to earn on very different ecosystems and 3. economic benefit.   Considering the difference in the capitalization levels of bitcoin and Ethereum, Hougan believes that 75% of the capital should be invested in BTC and 25% in ETH. According to calculations, over the period from May 2020 to May 2024, the yield of such an investment portfolio is 3% per annum higher than one that only contains bitcoin. However, Hougan acknowledges that in the shorter term, a portfolio including 100% BTC outperforms a diversified one. Moreover, investing only in bitcoin carries fewer risks due to its higher market capitalization and features such as limited coin issuance and a phased reduction in the inflation rate to zero.   NordFX Analytical Group   Notice: These materials are not investment recommendations or guidelines for working in financial markets and are intended for informational purposes only. Trading in financial markets is risky and can result in a complete loss of deposited funds.   #eurusd #gbpusd #usdjpy #btcusd #ethusd #ltcusd #xrpusd #forex #forex_example #signals #cryptocurrencies #bitcoin #stock_market   https://nordfx.com/ 
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